Financial Wisdom

Financial Wisdom of the Giants

"Standing on the shoulders of giants" is a phrase attributed to Sir Isaac Newton in his letter to Robert Hooke written in 1676. It refers to how he is able to see further because the ideas did not come from him alone. Instead he relied on the ideas of those who come before him. He took the ideas, refine it to suit his needs and move on from there.

Just as what Newton did, there is a whole lot of financial gurus out there whose wisdom we can tap so that we can see further and do better in our finances. Here is to the start of our journey in learning from the giants (and then some) - Warren Buffet, Peter Lynch, John Bogle, Burton Malkiel, Charlie Munger, George Soros, Stanley Druckenmiller, Carl Icahn, Ray Dalio, etc.

More to come - stay tuned...

Here's a quote by Charles T. Munger...the other half of Berkshire Hathaway:

I think you learn economics better if you make Adam Smith your friend. That sounds funny, making friends among the “eminent dead,” but if you go through life making friends with the eminent dead who had the right ideas, I think it will work better for you in life and work better in education. It’s way better than just giving the basic concepts.

Time Management or is it really Project Management?

We have been told since young by others that in order to do something well, we need to have good time management. As one who leads projects for a living who knows a thing or two about this, I will say that time management is a fallacy. Purely speaking, time management (just like managing people) refers to managing time in which we control time, i.e. we can accelerate it (to make it go faster), slow it down, or to stop time. We can do this with a lot of things but we cannot manage time - it continues to chug along, whether we like it or not. If you were to ask me the time and my answer is, say 9:00am, that time is already gone because it is 9:01am when you continue with what you are doing. Time is like a freight train or a subway that we can only latch on to and hope we can do things within the allotted time. Ask the student who needs to submit the paper at 11:59pm Sunday night or the employee who need to submit the report Mon morning 9:00am. In truth, what ...

The Mental You - Reducing Stress part 2

Just like there are always 2 sides to each story (the good and the bad), we can tackle issues in 2 ways - either head on or perhaps we can do something opposite altogether. The previous post is primarily concerned on how to overcome stress by reducing it. Another way is to focus on something totally unrelated to stress. So, rather than looking at fixing the bad, we focus on the good such that there is little room for the bad. Let's work on this together... Positive Thinking What do you see if you turn on the news, or start looking at social media? More often than not, aside from the beautiful people and cute cats, the news is mostly gloom and doom. There are wars and rumors of wars, climate change due to global warming causing floods, and other disasters, earthquakes at various parts of the world. So, it's no uncommon for us to no longer see the world in rose-tinted glasses but glasses with murky lenses. And yet, to reduce stress, this is the one thing we must do - to think ...

Parenting

How did you do it? This question has been asked by many of my friends and colleagues when they found out about my children. We had initially thought that what we went through is typical. But as we talked to more and more people, it is only then we realized that the journey is not so common after all. Singapore has been ranked amongst the top countries in the world by PISA, short for the Program for International Student Assessment that is under the OECD umbrella. In some years, it is actually ranked number 1. In other words, to be able to get through the Singapore education system is difficult enough as it is. The Journey to College By the grace of God, both my kids did well in the system by being selected into the Gifted Education Program (GEP) - for the top 1% of students - and then getting into Raffles Institution (supposedly the number 1 school in Singapore), and achieving straight As in the Singapore-GCE Cambridge "A" levels, and then receiving offers from a few o...

Paving the Wei

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